MTECHTIPS:-Gold pushes slightly higher as markets wait for U.S. inflation data


MTECHTIPS:-Gold pushes slightly higher as markets wait for U.S. inflation data

MTECHTIPS-Gold prices drifted higher in listless trade on Tuesday, as market players looked ahead to monthly U.S. inflation indicators due later in the week for fresh clues on the timing of the next Federal Reserve rate hike. A report on producer prices for July is due out on Thursday and the consumer price inflation report will be released on Friday. Markets remain skeptical the Fed will raise rates in December, according to Investing.com’s Fed Rate Monitor Tool, due to worries over the subdued inflation outlook, but it is widely expected to start the process of reducing its balance sheet by September. Comex gold futures for August were at $1,265.95 a troy ounce by 3:25 AM ET (0725 GMT), up $1.20, or around 0.1%.Gold prices ended mostly flat but in positive territory on Monday. The yellow metal has been well-supported in recent weeks as fading expectations for a third Fed rate hike this year combined with deepening political turmoil in the White House boosted the appeal of the precious metal

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